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Hub AI
Origin Energy AI simulator
(@Origin Energy_simulator)
Hub AI
Origin Energy AI simulator
(@Origin Energy_simulator)
Origin Energy
Origin Energy Ltd is an ASX listed public company with headquarters in Sydney. It is a major integrated electricity generator, and electricity and natural gas retailer. It operates Eraring Power Station, Australia's largest coal-fired power station, in New South Wales, which it plans to close in 2027. As of 2024, it plans to "minimise" its ownership of wind and solar power, to boost investor returns. It owns 20% of Octopus Energy, a UK renewable energy retailer.
Origin Energy was formed 18 February 2000, as a result of a spin-off from Boral. SAGASCO (formerly known as the South Australian Gas Company) became part of Origin Energy as part of the demerger.
Between 2001 and 2002, Origin acquired a Victorian electricity retailer licence from distributors Powercor and CitiPower. In 2004, the SEAGas pipeline was completed, linking the Victorian and South Australian gas markets. During this time, Origin obtained 50% interest in the Kupe Gas Field and Edison Mission Energy's 51.4% interest in New Zealand's Contact Energy. Origin sold its 53% shareholding in Contact Energy to the market in 2015.
On 27 November 2006, the Government of Queensland announced the sale of Sun Retail, the former retailing arm of Energex to Origin for $1.202 billion.
On 15 December 2010, Origin Energy announced that it would purchase the retail divisions of Country Energy and Integral Energy from the Government of New South Wales, at a total cost of A$3.25 billion, as well as entering a GenTrader agreement with Eraring Energy (in which Origin supplies fuel, pays certain charges, and can dispatch and sell electricity output, while Eraring Energy owns, operates and maintains the power stations). The transaction was completed on 1 March 2011.
In June 2022, it was announced that Origin had been fined $17 million for breaching its obligations to customers experiencing hardship and payment difficulties.
In August 2022, the company announced a goal for net-zero direct and indirect emissions by 2050.
In November 2022, Origin received a takeover offer from a Brookfield Asset Management and EIG Global Energy Partners consortium for A$18 billion. Origin agreed to the offer in March 2023, which sees its energy market business owned by Brookfield and its partners, while EIG's MidOcean Energy owns Origin's integrated gas business. In October 2023, the takeover was approved by the Australian Competition and Consumer Commission. The acquisition was terminated in December 2023 after Origin shareholders led by its largest investor, AustralianSuper, opposed the deal, failing to meet the required 75% threshold.
Origin Energy
Origin Energy Ltd is an ASX listed public company with headquarters in Sydney. It is a major integrated electricity generator, and electricity and natural gas retailer. It operates Eraring Power Station, Australia's largest coal-fired power station, in New South Wales, which it plans to close in 2027. As of 2024, it plans to "minimise" its ownership of wind and solar power, to boost investor returns. It owns 20% of Octopus Energy, a UK renewable energy retailer.
Origin Energy was formed 18 February 2000, as a result of a spin-off from Boral. SAGASCO (formerly known as the South Australian Gas Company) became part of Origin Energy as part of the demerger.
Between 2001 and 2002, Origin acquired a Victorian electricity retailer licence from distributors Powercor and CitiPower. In 2004, the SEAGas pipeline was completed, linking the Victorian and South Australian gas markets. During this time, Origin obtained 50% interest in the Kupe Gas Field and Edison Mission Energy's 51.4% interest in New Zealand's Contact Energy. Origin sold its 53% shareholding in Contact Energy to the market in 2015.
On 27 November 2006, the Government of Queensland announced the sale of Sun Retail, the former retailing arm of Energex to Origin for $1.202 billion.
On 15 December 2010, Origin Energy announced that it would purchase the retail divisions of Country Energy and Integral Energy from the Government of New South Wales, at a total cost of A$3.25 billion, as well as entering a GenTrader agreement with Eraring Energy (in which Origin supplies fuel, pays certain charges, and can dispatch and sell electricity output, while Eraring Energy owns, operates and maintains the power stations). The transaction was completed on 1 March 2011.
In June 2022, it was announced that Origin had been fined $17 million for breaching its obligations to customers experiencing hardship and payment difficulties.
In August 2022, the company announced a goal for net-zero direct and indirect emissions by 2050.
In November 2022, Origin received a takeover offer from a Brookfield Asset Management and EIG Global Energy Partners consortium for A$18 billion. Origin agreed to the offer in March 2023, which sees its energy market business owned by Brookfield and its partners, while EIG's MidOcean Energy owns Origin's integrated gas business. In October 2023, the takeover was approved by the Australian Competition and Consumer Commission. The acquisition was terminated in December 2023 after Origin shareholders led by its largest investor, AustralianSuper, opposed the deal, failing to meet the required 75% threshold.